Troy hopes FEMA promise to pay for project will help drive riverfront development "Restoring the Troy seawall will not only protect the Hudson River waterfront by preventing future flood damage, but also bring scores of economic benefits to the residents and businesses that have come to rely on the waterfront's incredible development," the New York Democrat said in a statement. When the seawall is repaired, it will be possible to develop additional docks and other projects along the riverfront, said Judge, who owns property along River Street from 225 River St., on the south side of 1 Monument Square, south to State Street. Donovan said the city would be meeting with the major property owners along the shoreline, which include the city's Riverfront Park and 1 Monument Square site, to discuss details of the project.